Reserve

Arthur

Yield

<p style="text-align: justify">Arthur Hayes, the co-founder and former CEO of BitMEX, a cryptocurrency derivatives exchange, reiterated his prediction that <a href="https://en.coin-turk.com/bitcoin-price-continues-to-fall-under-selling-pressure-what-does-the-btc-price-chart-indicate/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (<a href="https://en.coin-turk.com/the-current-state-of-the-crypto-market-will-consolidation-continue-in-bitcoin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>) will reach a seven-figure price. Hayes highlighted the developments that would support his prediction for the largest cryptocurrency.</p>
<h2 style="text-align: justify" id="strong-bitcoin-sees-2-738-increase-strong"><strong>Bitcoin Sees 2,738% Increase</strong></h2>
<p style="text-align: justify">The renowned figure Hayes stated that a monetary policy tool known as Yield Curve Control (YCC) would serve as an important catalyst for Bitcoin to reach $1 million and would result in an approximately 2,738% increase from current price levels. Bitcoin experienced a surge up to $36,000 in the early hours of November 2nd, but as of the time of writing, it is trading at $34,265, marking a 3.40% decrease in the past 24 hours.</p>
<p><img decoding="async" class="aligncenter size-full wp-image-273084" src="https://coin-turk.com/wp-content/uploads/2023/11/Arthur-Hayes-Bitcoin-BTC.jpeg" alt="" width="1280" height="720"></p>
<p style="text-align: justify">Central banks use yield curve control to influence the long-term interest rate by purchasing long-term bonds as much as possible and prevent the interest from exceeding the intended target. According to Hayes, even when the Federal Reserve (Fed) tightens, the US government maintains a loose monetary policy environment.</p>
<p style="text-align: justify">The co-founder of BitMEX initially mentioned his seven-figure prediction in an article he wrote in March of this year. At that time, he argued that China’s loosening of its monetary policy would trigger Bitcoin’s surge to $1 million.</p>
<h2 style="text-align: justify" id="strong-time-for-a-rally-strong"><strong>“Time for a Rally”</strong></h2>
<p style="text-align: justify">Hayes also stated that the Federal Reserve’s decision to halt interest rate hikes in the middle of this week indicates that it is rally time for <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">financial</a> assets. The prominent figure in the crypto world mentioned that the Fed’s decision would impact the monetary policies of other central banks and likely push them towards monetary easing, saying:</p>
<blockquote>
 <p style="text-align: justify">Everything is now in place for Bitcoin’s price to rise. I am starting to increase my speed of converting treasury bonds into BTC and shitcoins. Since the Fed has taken a break of more than two meetings, all other central banks are now ready to print money. I expect significant incentives from China, Europe, and Japan.</p>
</blockquote> Continue Reading: <a href="https://en.coin-turk.com/bitcoin-predicted-to-reach-seven-figures-says-bitmex-co-founder-arthur-hayes/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/bitcoin-predicted-to-reach-seven-figures-says-bitmex-co-founder-arthur-hayes/</a>

Bitcoin Predicted to Reach Seven Figures, says BitMEX Co-Founder Arthur Hayes

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